Williams-Sonoma, Inc. (WSM) Cash Flow Statement
Where WSM’s cash came from and went, FY2026
January 31, 2026 · U.S. dollars- Cash from operations
- $1.31B −3.3% vs FY2025
- Capital expenditures
- $259.4M 3.3% of revenue
- Free cash flow
- $1.06B 13.5% margin
- Returned to shareholders
- $1.17B 111% of free cash flow
- Change in cash
- −$193.2M cash at year-end $1.02B
Drawn to scale: where the cash came from and how it was used. Hover for values.
WSM operating cash flow, capex and free cash flow
WSM cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $524.7MFY2017 | $1.31BFY2026 | +10.7%/yr | |
| Capital expenditures | $197.4MFY2017 | $259.4MFY2026 | +3.1%/yr | |
| Free cash flow | $327.3MFY2017 | $1.06BFY2026 | +13.9%/yr | |
| Free cash flow margin | 6.4%FY2017 | 13.5%FY2026 | +7.1 pts | |
| Operating cash flow / net income | 1.72FY2017 | 1.21FY2026 | −0.51 | |
| Stock-based compensation | $51.1MFY2017 | $106.5MFY2026 | +8.5%/yr | |
| Dividends paid | $133.5MFY2017 | $316.5MFY2026 | +10.1%/yr | |
| Share buybacks (net) | $151.3MFY2017 | $854.0MFY2026 | +21.2%/yr | |
| Capex / revenue | 3.9%FY2017 | 3.3%FY2026 | −0.6 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WSM cash flow by activity
WSM net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
WSM cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $1.09B | $1.13B | $949.8M | $1.13B | $1.13B | $680.7M | $356.1M | $333.7M | $259.5M | $305.4M |
| Depreciation & amortization | $231.4M | $229.8M | $232.6M | $214.2M | $196.1M | $188.7M | $187.8M | $188.8M | $183.1M | $173.2M |
| Stock-based compensation | $106.5M | $99.0M | $84.8M | $90.3M | $95.2M | $73.2M | $64.2M | $59.8M | $43.0M | $51.1M |
| Change in working capital | −$388.5M | −$342.9M | $167.9M | −$609.8M | −$263.0M | $102.7M | −$208.0M | −$3.4M | −$25.7M | $11.4M |
| Other non-cash items | $277.0M | $249.1M | $245.3M | $230.3M | $216.4M | $229.6M | $207.3M | $7.1M | $39.8M | −$16.4M |
| Cash from operating activities | $1.31B | $1.36B | $1.68B | $1.05B | $1.37B | $1.27B | $607.3M | $586.0M | $499.7M | $524.7M |
| Investing activities | ||||||||||
| Capital expenditures | −$259.4M | −$221.6M | −$188.5M | −$354.1M | −$226.5M | −$169.5M | −$186.3M | −$190.1M | −$189.7M | −$197.4M |
| Investments (net) | — | −$221.2M | −$188.3M | −$354.0M | −$226.2M | −$168.9M | −$185.5M | −$187.9M | −$269.8M | −$197.0M |
| Acquisitions & other investing | −$1.1M | $221.6M | $188.5M | $354.1M | $226.5M | $169.5M | $186.3M | $190.1M | $189.7M | $197.4M |
| Cash from investing activities | −$260.6M | −$221.2M | −$188.3M | −$354.0M | −$226.2M | −$168.9M | −$185.5M | −$187.9M | −$269.8M | −$197.0M |
| Financing activities | ||||||||||
| Dividends paid | −$316.5M | −$280.1M | −$232.5M | −$217.3M | −$187.5M | −$157.6M | −$150.6M | −$140.3M | −$135.0M | −$133.5M |
| Share repurchases & issuance (net) | −$854.0M | −$807.5M | −$313.0M | −$880.0M | −$899.4M | −$150.0M | −$148.8M | −$295.3M | −$196.2M | −$151.3M |
| Net borrowing (repayment) | — | — | $0 | $0 | −$300.0M | −$3.6M | −$300.0M | −$300.0M | $298.8M | $300.0M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$81.9M | −$96.7M | −$52.8M | −$81.3M | −$105.0M | −$31.7M | $272.2M | $285.6M | −$19.3M | −$321.0M |
| Cash from financing activities | −$1.25B | −$1.18B | −$598.3M | −$1.18B | −$1.49B | −$343.0M | −$327.2M | −$450.1M | −$51.7M | −$305.8M |
| Summary | ||||||||||
| Net change in cash | −$193.2M | −$49.0M | $894.7M | −$483.0M | −$350.0M | $768.2M | $93.2M | −$51.2M | $176.4M | $20.1M |
| Cash at end of period | $1.02B | $1.21B | $1.26B | $367.3M | $850.3M | $1.20B | $432.2M | $339.0M | $390.1M | $213.7M |
| Free cash flow | $1.06B | $1.14B | $1.49B | $698.7M | $1.14B | $1.11B | $421.0M | $395.9M | $310.0M | $327.3M |
| Free cash flow margin | 13.5% | 14.8% | 19.2% | 8.1% | 13.9% | 16.3% | 7.1% | 7.0% | 5.9% | 6.4% |
| Capex / revenue | 3.3% | 2.9% | 2.4% | 4.1% | 2.7% | 2.5% | 3.2% | 3.4% | 3.6% | 3.9% |
| Operating cash flow / net income | 1.21 | 1.21 | 1.77 | 0.93 | 1.22 | 1.87 | 1.71 | 1.76 | 1.93 | 1.72 |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $338.1M | $231.4M | $116.8M | $514.6M | $247.6M | $231.3M | $384.9M | $249.0M | $225.7M | $265.7M | $354.4M | $237.3M |
| Depreciation & amortization | $56.6M | $56.1M | $288.3M | −$56.3M | $56.8M | $56.4M | $58.1M | $58.4M | $56.3M | $57.0M | $66.6M | $55.2M |
| Stock-based compensation | $32.0M | $29.5M | $131.0M | −$21.9M | $26.6M | $20.4M | $32.9M | $21.3M | $21.9M | $23.0M | $18.3M | $22.3M |
| Change in working capital | $38.8M | −$145.0M | $81.5M | −$82.4M | −$128.9M | −$258.8M | $104.7M | −$136.2M | −$116.9M | −$194.5M | $198.2M | −$84.3M |
| Other non-cash items | $74.1M | −$15.7M | −$19.5M | −$36.6M | $80.7M | $69.7M | $52.9M | $61.0M | $59.6M | $75.6M | $37.3M | $59.9M |
| Cash from operating activities | $539.5M | $156.3M | $598.1M | $317.5M | $282.7M | $118.9M | $633.5M | $253.5M | $246.5M | $226.8M | $674.9M | $290.4M |
| Investing activities | ||||||||||||
| Capital expenditures | −$58.7M | −$57.7M | −$80.9M | −$68.2M | −$52.0M | −$58.2M | −$67.2M | −$83.4M | −$31.4M | −$39.5M | −$53.6M | −$42.0M |
| Investments (net) | — | — | — | −$68.2M | −$53.3M | −$58.2M | −$67.2M | −$83.0M | −$31.5M | −$39.5M | −$53.8M | −$41.8M |
| Acquisitions & other investing | $52,000 | $10,000 | $34,000 | $68.2M | $52.0M | $58.2M | $67.2M | $83.4M | $31.4M | $39.5M | $53.6M | $42.0M |
| Cash from investing activities | −$58.7M | −$57.7M | −$80.9M | −$68.2M | −$53.3M | −$58.2M | −$67.2M | −$83.0M | −$31.5M | −$39.5M | −$53.8M | −$41.8M |
| Financing activities | ||||||||||||
| Dividends paid | −$89.9M | −$85.6M | −$79.9M | −$80.6M | −$81.3M | −$74.7M | −$71.2M | −$73.1M | −$72.9M | −$62.9M | −$57.9M | −$57.9M |
| Share repurchases & issuance (net) | −$5.5M | −$381.4M | −$298.3M | −$266.6M | −$199.1M | −$90.0M | −$100.0M | −$533.9M | −$129.8M | −$43.8M | −$1.7M | −$3.0M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$7.7M | −$3,000 | −$5.3M | −$3.0M | −$10.7M | −$65.4M | −$6.0M | −$1.9M | −$1.8M | −$87.0M | $0 | −$1.2M |
| Cash from financing activities | −$103.0M | −$467.0M | −$383.4M | −$350.2M | −$291.1M | −$230.0M | −$177.2M | −$608.8M | −$204.6M | −$193.7M | −$59.6M | −$62.1M |
| Summary | ||||||||||||
| Net change in cash | $377.3M | −$368.2M | $135.1M | −$101.2M | −$61.4M | −$165.8M | $386.2M | −$438.5M | $10.5M | −$7.2M | $563.2M | $184.4M |
| Cash at end of period | $1.03B | $651.6M | $1.02B | $884.7M | $985.8M | $1.05B | $1.21B | $826.8M | $1.27B | $1.25B | $1.26B | $698.8M |
| Free cash flow | $480.8M | $98.6M | $517.2M | $249.3M | $230.7M | $60.7M | $566.3M | $170.1M | $215.1M | $187.3M | $621.2M | $248.5M |
| Free cash flow margin | 24.5% | 5.5% | 21.9% | 13.2% | 12.6% | 3.5% | 23.0% | 9.4% | 12.0% | 11.3% | 27.3% | 13.4% |
| Capex / revenue | 3.0% | 3.2% | 3.4% | 3.6% | 2.8% | 3.4% | 2.7% | 4.6% | 1.8% | 2.4% | 2.4% | 2.3% |
| Operating cash flow / net income | 1.60 | 0.68 | 5.12 | 0.62 | 1.14 | 0.51 | 1.65 | 1.02 | 1.09 | 0.85 | 1.90 | 1.22 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
WSM cash generation
In fiscal 2026 (ended January 31, 2026), Williams-Sonoma generated $1.3 billion of cash from operations (down 3.3%) and spent $259.4 million on capital expenditures, leaving free cash flow of $1.1 billion, 13.5% of revenue. It returned $1.2 billion to shareholders through dividends ($316.5 million) and net share buybacks ($854.0 million). Cash and equivalents fell by $193.2 million over the year.
Related: WSM income statement, WSM balance sheet, WSM dividend history. See the WSM stock overview for the latest quote and news.
WSM cash flow FAQ
What is Williams-Sonoma's free cash flow?
Williams-Sonoma's free cash flow was $1.1 billion in fiscal 2026: $1.3 billion of operating cash flow minus $259.4 million of capital expenditures It was $1.1 billion a year earlier..
How much cash does Williams-Sonoma generate from operations?
Williams-Sonoma generated $1.3 billion of cash from operating activities in fiscal 2026, 1.21 times its net income of $1.1 billion.
How much does Williams-Sonoma spend on capital expenditures?
Williams-Sonoma spent $259.4 million on capital expenditures in fiscal 2026, 3.3% of revenue, compared with $221.6 million the year before.
How much stock does Williams-Sonoma buy back?
Williams-Sonoma spent $854.0 million on net share repurchases in fiscal 2026.
How much does Williams-Sonoma pay in dividends?
Williams-Sonoma paid $316.5 million in dividends in fiscal 2026, 30.0% of free cash flow.